Trammell Crow Co. is looking to build a new $80M industrial park off the shores of Lake Lanier.
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The developer has applied with the Georgia Department of Community Affairs to develop Buford Creek Business Center, a six-building, single-story warehouse complex totaling 747K SF. The project would rise on a wooded lot at the corner of Big Creek Road and Lanier Islands Parkway, just south of Big Creek Park and the lake itself, according to the application.
The project is projected to complete by March 2026 and generate $400K in annual taxes to the local government, according to the application. Officials with Trammell Crow in Atlanta declined to comment.
The Atlanta industrial market is seeing a historic level of new supply. At the end of 2023, developers were under construction on more than 20M SF across the metro, according to CBRE. At the same time, leasing activity and absorption have slowed.
That said, the Northeast/Interstate 85 submarket, where Buford Creek Business Center will be located, posted some of the strongest absorption numbers in the metro area last year, clocking in 2M SF with another 5.5M SF under construction, according to CBRE’s year-end report.
DEVELOPMENT
Doowon Climate Control America Inc. plans to invest $30M in a new manufacturing facility in Metter, Georgia, some 60 miles northwest of Savannah, Gov. Brian Kemp announced Tuesday. Doowon, based in Korea, makes automotive climate control systems and will be a supplier for the Kia Motors and Hyundai Motor Group plants.
The facility is set to be located in the Metter-Candler County Interstate 16 Industrial Park and will employ 200 people when it opens in 2026, according to a press release. Georgia Department of Economic Development Director Alyce Thornhill represented the state in incentive negotiations.
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High Street Residential is moving forward on a 350-unit apartment project in the Perimeter Summit office park in Brookhaven, just across Interstate 285 from the main Central Perimeter business district. The Dallas-based firm, a subsidiary of Trammel Crow Co., paid $11.5M for 4 acres at 5005 Perimeter Blvd., the Atlanta Business Chronicle reported.
The firm plans to break ground in November on the seven-story project, according to the ABC.
SALES
Local nonprofit Ser Familia purchased Barrett Summit Building 200, an 80K SF, five-story building in Kennesaw, from Tioga Capital. The purchase price was undisclosed. Tioga purchased the building and two others in the Barrett Summit office complex in 2022 for $11M, and Cobb County appraised Building 200's value at $4.9M in 2023.
Lincoln Property Company Southeast Vice Presidents Matt Fergus and Seabie Hickson brokered the sale for Tioga.
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Finial Group purchased 4179 Vansant Road, a vacant 33K SF industrial building in Douglasville, for an undisclosed price. The previous owner, 4179 Vansant Road LLC, is tied to Bayou Commercial’s Kyle Goldich, according to Douglas County records. Goldich purchased the property last year for $1.8M.
Marcus & Millichap Vice President Ani Paulson and agent Gerald Robison brokered the deal.
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FINANCE
Pine Grove Communities obtained a $36.4M construction loan for its planned Foxgrove on Castleberry build-to-rent community in Dawsonville. J.P. Morgan Global Alternatives is a partner in the planned single-family-home community with 198 units just off Georgia 400.
CBRE Vice Chairmen Mike Ryan and Brian Linnihan, Senior Vice President Richard Henry and Director Taylor Crowder represented Pine Grove in loan negotiations. The lender wasn't identified.
LEASES
Emory Geriatrics leased 8,400 SF and the Emory School of Nursing leased 10K SF at 57 Executive Park in Atlanta, a two-story medical office building near the Centers for Disease Control and Prevention headquarters. Lincoln Property Co.’s Matt Fergus and Seabie Hickson brokered the deals for the landlord, Emory Healthcare.
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Bovis, Kyle, Burch and Medlin renewed 27K SF at 200 Ashford Center North for its headquarters. Lincoln Executive Vice President Hunter Henritze, Matt Fergus and Seabie Hickson brokered the deal for the landlord, TerraCap.
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Holster-maker BlackPoint Tactical leased 25K SF at Windward Chase at 1220 Old Alpharetta Road, moving from 1025 Nine North Drive in Alpharetta. Scotland Wright Associates Director Nathan Williams represented the landlord, Real Op Investments, while Crossley, Jernigan & Ellison co-founder Neal Jernigan represented BlackPoint.
CORRECTION, FEB. 9, 11:45 A.M. ET: A previous version of this story incorrectly described Barrett Summit Building 200's height. It is five stories. Tioga Capital also purchased all three Barrett Summit buildings for $11M, not just the one. The story has been updated.
